Cubera holds €405m final close on eighth secondary fund

The close was first and final for Cubera VIII, which brought in institutional backers from Europe, the US and the Middle East.

The GP said in a statement the €405m vehicle's total investment capacity exceeds €500m due to co-investment arrangements.

The Oslo-headquartered secondary investor's latest vehicle is nearly twice the size of its predecessor, Cubera VII, which closed on €225m in August 2014.

Investors
LPs in Cubera VIII include institutional investors from Europe, the US and the Middle East. Previous investors in the GP's funds include Swedish asset manager Brederode, the Sixth Swedish National Pension Fund and Norwegian pension fund Bergen Kommunale Pensjonskasse.

Investments
Cubera VIII will acquire LP interests in Nordic buyout funds through the secondary market.

In addition to straightforward secondary acquisitions, the fund will also be able to invest in LP interests as part of full restructuring processes for tail-end funds.

People
Cubera Private Equity – Jørgen Kjærnes (managing partner); Kine Burøy-Olsen (partner).

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